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finance and criminal allegations, the whirlwinds rocking rupert murdoch's mighty mediame empire. >>> markets in europe are deep in the red on heels of steep markets across asia. how are things moving where you are? >> down, a third session of losses and quite heavy ones. let's check in with the markets. really quite heavy, off by more than 2%, comfortably more than 2%, and with the paris and zurich off by 2.1%, zurich off by more than 2.1% and the same theme as we saw in monday's session which is the banks very heavily being sold at the moment heavily, there is clearing great deal of worry about the contagion spreading to italy about this moving into a generalized crisis with a lot of banks really coming under pressure with non-performing government bonds on their books, and just one other theme, thomas cook is down on a profit warning, but really the whole worry about italy's finances very much putting all of that in state and look at that on the milan stock exchange we're looking at a punishing session off by 4.25%. let's move on to the currency markets not surprisingly we're
relationship with rupert murdoch's media empire. >> go to used of parliament this morning. fireworks yesterday. the consensus, though, is david cameron is not likely to lose his job over this but that he's under enormous pressure right now. >> reporter: he's definitely is. he's got a lot to defend himself today. basically, this is a special day in parliament. they were supposed to go into summer recess but instead they are having this special address by the prime minister here. he's really going to try to prove a point here, that he's is going to underline the phone hacking scandal, say this is how i dealt with it and now we need to move on. here is how he put it when he was in africa for a trip. >> i don't underestimate the problem. parts of the immediate okay dreadful, illegal acts. police have questionses to answer about corruption and a failed investigation. politicians have been too close to media onus. these are big proximate but we're a big country and we'll solve it. >> reporter: now, the main issue he's going to have to teal with is why he decided to hire andy colson who was later arr
rupert murdoch and his son james for hours and hearing televised all over the world. murdoch's media empire has been rocked by accusations of police payoffs, phone hacking and corruption at his british newspapers. and troughout the hearing, all of the charges kept coming back to one central question. take a listen. >> do you accept that ultimately, you are responsible for this whole fiasco? >> no. >> you are not responsible? who is responsible? >> the people that i trusted to run -- and then maybe the people they trusted. >> the murdochs did their best to distance themselves from the worst allegations, but the question still remains what exactly did they know? and what actions did they condone? one lawmaker thinks they know more than they let on. >> are you familiar with the term willful blindness? >> mr. sanders, would you care to elaborate? >> it is a term that came up in the enron scandal. willful blindness is a legal term. if there is knowledge that you could have had and should have had, but chose not to have, you are still responsible. >> mr. sanders, do you have a question? re
-out quarter. >>> media mogul rupert murdoch and his son faced certain questions from uk legislators. now the phone hacking saga rolls on with a new parliamentary report saying murdoch's news international, quote, deliberately tried to obstruct a police investigation into the now defunct "news of the world". in the meantime, prime minister david cameron is getting ready to make an emergency statement on this crisis after flying back early from a trade trip to south africa. >>> many of us here in hong kong watched that testimony and we stayed up pretty late to watch it. rupert murdoch denied any knowledge of phone hacking at the "news of the world," but it was his son james who actually did most of the talking, intervening when his father seemed at a loss for words. it was murdoch's wife wendy who intervened in a very different way. dan rivers has the details for us. >> i would just like to say one sentence. this is the most humble day of my life. >> reporter: this was how rupert murdoch started. despite his apparent contrition, he surely had no idea what was about to literally hit him. wh
on either side of rupert murdoch. the pressure is rising on the media mogul. it was britain's worst peacetime act of terrorism. but now, there are concerns that families of those killed on 7/7, in 2005, were also eavesdropped upon by the british tabloid, "news of the world." graham lost his son, david, in the attack. and says his phone may have been hacked by reporters. >> the thought that somebody may have been listening to me begging for david to phone home. i thought we were in a dark place and i didn't think anybody could make it darker. but i'm proved wrong. >> reporter: the phone hacking scandal is so shocking, it's prompted an emergency debate in britain's parliament. >> it's make the public. and i feel so appalled by what's happened. murder victims, terrorist victims, who had their phones hacked. that's why there's a full police investigation, with all of the powers they need. we have the inquiries to get to the bottom of what went wrong. >> reporter: it's put former "news of the world" editor, rebecca brooks under incredible pressure. he's now chief executive of the parent
on the right with rupert murdoch on the left. she could be questioned by police today. les hinton told investigators in 2007 that the firm hiking was limited to one reporter. news internation nal said that that conclusion was based on an examination of 2,500 e-mails. but the shocking resch lagss continued to pile up and i suppose the rest is history and now media mogul rupert murdoch has flown no to take part in what is just a mench. he's trying to save the takeover of his british sky broadcasting known as b sky b. it does have the backing of news corps. despite that monday's independence says the deal appears, quote, dead in the water, pauline. >> well, charles, let's take a look at how all of this has affected the stock. it's dented news corps shares. it was one of the worst performing stocks on the sydney today, down 5.1%. at the close on this monday, it was selling at 15 aussie dollars. with the deal in question, it could slide even further. charles? >> don has been following this saga and joins us outside the house of commons. dan, what is the mood. is there a mood to stifle this
, july 8th. news corp boss rupert murdoch folds his tabloid. >>> shuttle "atlantis" files up for one final foray. >>> and harry potter fans unite for one last wave of the wand. >>> it's the end of the "news of the world." that shamed british sunday newspaper is shutting down. after this weekend's edition and 168 years of history, the last edition of the "news of the world" will have rolled off the printing presses. >> now, as outrage spread from the public to the politicians and finally to the advertisers, rupert murdoch took decisive action. his son, james, announced the paper would close after this coming weekend and that all the staff would be out of a job. james, of course, is the chairman of news international. he posted his statement online for all to see. the key line in that statement, the news of the world is in the business of holding others to account, but it failed when it came to itself. charles? >> it appears that failure could lead to the arrest of this man. former editor andy coorson. reporting suggest that he is supposed to turn himself over this morning in the phone
malveaux. let's get you up to speed for monday, july 18th. this scandal shaking rupert murdoch's media empire claimed another casualty today. london's assistant police commissioner john yates resig d resigned. yates calls his decision, quote, crap. his resignation is one day after scotland yard chief paul stevenson quit. he came under fire for hiring a former "news of the world" editor as his pr kumt ant. that man was arrested in the scandal last year. british lawmakers expect rupert murdoch's protege rebekah brooks to show up tomorrow to answer questions. despite her arrest over the weekend, her spokesman says she will be there. she's denying she knew her reporters hacked phones for scoops while she was the newspaper's editor. rupert murdoch, chairman of news corp, and his son james are expected to testify alongside brooks tomorrow. they will appear before parliament's media committee. >>> a heatwave hitting the middle of u.s. extremely high humidity makes it feel as hot as 117 degrees in some places. that heat is creeping east. >> brutal. i probably lost 10 pounds today. it'
. >>> media baron rupert murdoch has abandoned his attempt to take over bskyb. it was dropped after all the parties in parliament called on murdoch to dump his plans to pursue it. at least four members of the u.s. congress want the government to investigate whether u.s. citizens were victims of phone hacking by murdoch's media outlets. international journalists were attempted to hack into the phone messages of 9/11 victims. > ruling party officials say mr. salih will go back after he's 4 surgery. >>> those are the headlines. those are the headlines in cnn in london. "world business today" starts now. >>> very good morning to you from cnn rome. >> and good afternoon from cnn hong kong. i'm pauline chu and this is "world business today." these are the top stories on this thursday, july 14th. running on empty and running out of time on both sides of the atlantic. there's a tense stalemate in washington as lawmakers fail yet again to head off the looming debt default. >>> meanwhile, italy races to push through austerity measures and restore confidence in the country's economy. >>> plus, rup
. >>> the british government looks to back calls from rupert murdoch to drop his bid for bskyb as phone hacking allegations surrounding his uk newspapers continue to chip away at the value of his entire media empire. >>> china's building boom shows no signs of slowing down much to the dismay of this man who calls this makeshift building his home. [ female announcer ] now you can apply sunblock to your kids' wet skin. new neutrogena® wet skin kids. ordinary sunblock drips and whitens. neutrogena® wet skin cuts through water. forms a broad spectrum barrier for full strength sun protection. wet skin. neutrogena®. [ding] announcer: clean kitchen surfaces, utensils, and hands with soapy water. one in 6 americans will get sick from food poisoning this year. keep your family safer. check your steps at foodsafety.gov. >>> welcome back. live from rome and hong kong, you're watching "world business today" on cnn. >>> for media tycoon rupert murdoch, the sky may indeed be the limit. we're talking about british sky broadcasting. a downing street source tells c flfrnlthsn the british government will back
outrage over private information that found its way into rupert murdoch's newspapers in britain. let me say for the record that journalists are supposed to dig up information and just because somebody considers something private doesn't necessarily mean it's not newsworthy. but the murdoch scandal centers on alleged illegal phone hacks and bribes to police to get phone numbers, voice mails and documents from literally thousands of celebrities, politicians, members of the royal family, even murder victims. it's cnn's in-depth story of the week. today, former british prime minister gordon brown says murdoch papers got hold of his family's bank records. here's what brown told the bbc. >> i think what happened pretty early on in government is that the "sunday times" appeared to have got access to my building society account, they got access to my legal files, there's some question mark about what happened to other files, documentation, tax and everything else, but i'm shocked, i'm genuinely shocked to find that this happened because of their links with criminals. >> brown's predecessor refl
of the world is part of the rupert murdoch media empire. several employees have already been interviewed by police. the "new york post" calls the allegations deplorable and unacceptable. rebecca brooks, the editor of "news of the world" at the time says she is, quote, sickened that these events are alleged to have happened. >>> also, actor hugh grant says he's the latest celebrity to be hacked by the tabloid. he spoke to richard quest today and richard joins us. he'll be joining us in just a little bit. and interest what hugh grant has to say. >>> now, after a decade and a half on the run, accused boston gang boss james "whitey" bulger is back in court today, being arraigned for his alleged role in 19 murders. he pleased not guilty to all of the charges against him. bulger was the head of a south boston irish gang and was the inspiration for the character portrayed by jack nicholson in the movie "the departed." >> when i was your age, they would say we could become cops or criminals. what i'm saying is this, when you're facing a loaded gun, what's the difference? >> allegedly bulger was
. together those five brands bring in an estimated $3.2 million for the rupert murdoch owned newspaper. pretty significant business on the line. all of this comes as murdoch's own news corporation aims to take over british sky broadcasting. discussions on that have been going on for months. there's also been widespread opposition to that planned takeover. and just yesterday reacting to fresh allegations, the former deputy prime minister lord prescott began calling for the takeover to be blocked. john prescott himself is one of many politicians to have his phone hacked alongside numerous celebrities, stars and aides to the british royal family. as dan rivers reports, even though phone hacking revelations are nothing new, it dates back further than many realized. >> the murder of the 13-year-old schoolgirl milly doward in 2002 appalled britain. last month her killer, lev levi belfield was finally convicted. this is now come up with another inquiry, phone hacking. the scandal relates to the illegal tabloid practice of accessing cell phone messages left for celebrities in order to get stor
listening to them giving her family and friends thoughts that she was still alive. rupert murdoch has not apologized to them and they're pretty upset with the paper's, quote, self-congratulatory" issue. here oh's what the president said on the last day. >> it's really been a great day, a wonderful newspaper. >> now there are accusations that the newspaper also bribed police officers and hacked the phone messages of terrorist victims. >> the u.s. is withholding $800 million to pack stab. its's a smack down for them expelling u.s. military trainers. they hope holding all the money back will create pressure on them. >>> here's fake for you. $47 million. nearly two oust every $10 americans took in last year came from the government in if form of job else benefits, food stamps and social security. when extended benefits go away by the end of this year, some $37 billion won't go into people's accounts and won't go into the economy. time now for reynolds wolf in a atlanta. any flight days? >> not yet but they're sure to come. there are song strom storms coming. possibly major delays for chic
the investigation to other companies and rupert murdoch is back in the united states after facing tough questions from members of the british parliament. analysts believe murdoch and his son james managed to cape the damage to their company news corp. but the damage is jaw-dropping as how sleazy some of tactics were. cnn a cnn's deborah feyerick. >> reporter: like the "news of the world" it appears every one everywhere was fair game. actors. business tycoons. royals. prime ministers. politicians. all potential front page fodder caught up in a type of scandal driven journalism that bordered on blood sport. allegedly involving hacking, tracking and outright bribes. >> they very much crossed the line and they didn't just do it once or twice. we are not talking about a single rogue reporter. apparently, it happened at least 4,000 times. >> reporter: media executive bonnie fuller has been the driving force behind magazines like "star" "us weekly." you have a much stronger takedown culture in the british tabloids. they are much nastier than anything you would find there and they do look to tear down pe
and bribery of public officials. as many of you know, this paper is owned by rupert murdoch. murdoch's news corp. is at the center of the scandal related to alleged phone hacking in britain. "the post's" editor says the documents are being preserved, quote, in light of what has gone on in london at "news of the world." >>> well, also, we are having open tryouts right here on cnn for a new meteorologist. take a look. how do you think this guy's going to do? fabio's fabulous weather report is coming your way. it's eight past the hour. stay with me. i remember the days before copd. my son and i never missed opening day. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function, starting within 5 minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better, and that means... game on! symbicort is for copd, including chronic bronchitis and emphysema. it should not be taken more than twice a day. symbicort may increase your risk of lung infec
higher ahead of the held in an hour. strong numbers on china pushing world markets higher. rupert murdoch's media empire take ago hit after the phone hacking scandal at "news of the world." the company include the fox television network and the "the wall street journal" here at home. >>> netflix is hiking prices by 60% who want to keep the mail and the streaming options. the company focuses on its streaming business and way from its dvd mailings. >>> coming up next, reports that the cia may be operating on a secret base in somalia. our question of the day. e-mail us, give us a tweet, tell (screams) when an investment lacks discipline, it's never this obvious. introducing investment discipline etfs from russell. visit russelletfs.com r a prospectus, containing the investment objectives, risks, charges, expenses and other information. read and consider it carefully before investing. is it the new forty, i don't know. i probably feel about thirty. how is it that we don't act our age? [ marcie ] you keep us young. [ kurt ] we were having too much fun we weren't thinking about a will at that t
Search Results 0 to 16 of about 17